Noida Authority approves budget of Rs 6,920 crore for 2023-24

Noida: The Noida Authority, on Sunday, held its 209th board meeting and approved a budget of Rs 6,920 crore which will be spend on various development and infrastructure works. The board meeting was held under the chairmanship of Noida Authority Chairman, Manoj Kumar Singh, also the Additional Chief Secretary to Govt of Uttar Pradesh. Noida authority’s CEO Ritu Maheshwari and other senior officials were present in the meeting.

A senior Noida authority officer informed that for the Financial year 2023-24, a target of Rs 6,920 crore against Rs 6,503 crore on expenditure has been fixed. “For the financial year 2022-23, the Noida authority board has set a target of Rs 4,880.62 crore against the expenditure of Rs 4,579.52 crore. This year the revenue have been 132 per cent more than the target and the expense has been 108 per cent more than the target,” a senior Noida authority officer said.

Ritu Maheshwari, CEO, Noida authority said that the major portion of budget will be spend to strengthen infrastructure facilities. “The board has approved a large potion of budget worth Rs 1,906 crore for various development and construction works. This will include land acquisition for new projects and development for undergoing works” said Maheshwari.

The officer further informed that a total of Rs 141 crore in the financial year 2023-24 will be spend on development of villages which includes cleanliness arrangements, road repair and urban maintenance work, among others.

Over the land allocation rates, the CEO informed that for the financial year 2023-24, a 10 per cent increase in the rates of E-category plots of residential plots has been decided. “In remaining categories, a 6% increase from the existing rates in the residential categories, group housing, industrial and institutional and data centers has been made. The A+ category has remained unchanged” CEO Maheshwari stated.

Meanwhile, for the establishment of upcoming Noida International Airport in Jewar, the updated status of the payment made in the first and second phase by the Noida Authority in relation to the fixed shareholding in NOIDA International Airport Ltd as a joint venture company was observed in the board meeting.

Also the proposal to form a panel of 7 organisations for structural audit of multi-storey buildings located in the authority area has been approved. Officials said that the partial/full occupancy will be issued to the allottee only after the safe report of the audit is received from one of these organisations.